Property News · November 28, 2016

Shop around to avoid racking up a catalogue of pricey debt


Interest-free deals in traditional shopping directories and online can seem a good idea. But the costs can mountAlex spent £675 on a washing machine and a fridge-freezer from Littlewoods, opting to “buy now pay later”. At the time his income was sufficient to make the repayments before the end of the interest-free period, but when he was suddenly made redundant he couldn’t afford to repay the debt in time, and then an interest rate of 39% kicked in.“Suddenly the payments went up from about £130 to £250 a month and I didn’t have the cash,” he says. “Buy now pay later seemed the easy option, but looking back I should have just saved up the money for a couple of months. It was naivety on my part.” Continue reading…

Source : theguardian.com
Read more…Shop around to avoid racking up a catalogue of pricey debt

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